The Importance Of Unemployment Insurance
Heather Boushey of the Center for American Progress lays out reasons for continuing emergency unemployment benefits.
But many people may feel like they have no choices left, thus leaving the workforce and the unemployment insurance program. Although the unemployment level decreased to 8.6 percent in November—its lowest point in two-and-a-half years—the drop is due at least in part to people completely leaving the workforce. Unemployed workers face daunting odds finding employment in this labor market. The employment rate—the share of Americans with a job—is 58.5 percent, and it remains just 0.4 percentage points higher than the near-30-year low point reached this July.
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The extension of unemployment benefits cannot be allowed to expire. Far from giving people a reason not to find work, they have been shown to spare active job seekers from living in poverty, and to boost the struggling economy. This, in turn, can only serve to create the jobs that people both want and need.